U.S. home starts unexpectedly fell last month as unusually cold weather hampered construction, but a jump in building permits to a 14-month high indicated the housing market recovery was intact.
New U.S. housing starts unexpectedly fell in December, likely the result of unusually cold weather, while producer prices rose for a third straight month.
China punished some banks, including Bank of China , for lending too much, after a surge in new loans this year increased inflationary pressures, sources said on Wednesday citing central bank figures.
Chinese authorities ordered some big banks to curb lending for the rest of January, intensifying their efforts to prevent the world's third-largest economy from overheating.
The euro fell to a five-month low against the dollar on Wednesday as investors seized on Greece's fiscal woes to drive the currency below key support, while shares in China were hit by reports of bank lending restrictions.
The euro fell broadly on Wednesday, hitting a four-month low against the dollar on concern about Greece's fiscal problems and breaking below a key chart level that could signal a bearish trend for the currency.
Inflation is unlikely to be a problem as long as U.S. unemployment remains elevated, according to economists from the San Francisco Federal Reserve Bank.
The central banks of China and Taiwan tightened policy on Tuesday to drain money from the banking system, marking intensified efforts in the region to head off inflation and cool asset bubbles.
The central banks of China and Taiwan tightened policy on Tuesday to drain money from the banking system, marking intensified efforts in the region to head off inflation and cool asset bubbles.
Bank of Japan Governor Masaaki Shirakawa said the central bank will keep monetary conditions accommodative to help pull the country out of deflation.
The Aussie dollar fell below the 93 cent handle in Asia on Friday to enter offshore trade around 0.9275 ahead of key European and U.S economic data releases.
Despite better than expected JPMorgan earnings, the S&P 500 index dropped 12.43 points, or -1.08%, to trade at 1136.03 after weak economic data on the retail sector.
President Barack Obama's proposal to charge big banks a fee to repay a taxpayer bailout for the financial system may create incentives that result in funding concerns for banks, according to one expert.
U.S. consumer prices rose modestly last month, while industrial output rose on a cold snap, suggesting the economy was growing but not generating a level of inflation that would spur the Federal Reserve to roll back from its stimulative policies.
The U.S. economy will expand at a decent clip this year as a recovery in housing and consumer spending offset troubles in commercial real estate, Richmond Fed President Jeffrey Lacker said on Friday.
U.S. consumer prices rose modestly last month while a cold snap lifted industrial output, suggesting the economy was growing but not generating enough inflation to trouble the Federal Reserve.
U.S. consumer sentiment was little changed in early January, as worries over income and high unemployment offset news of an improving economy, a survey released on Friday showed.
U.S. consumer prices rose modestly last month while a cold snap lifted industrial output, suggesting the economy was growing but not generating enough inflation to trouble the Federal Reserve.
S&P 500 index futures are trading down 5.2 points from yesterday's close and JPMorgan shares are down 0.67% in pre-market trading.
The European Central Bank chief is cautious about the prospect of European and worldwide economic recovery while the Philadelphia Fed Bank President is more optimistic about the US economy.
The European Central Bank kept benchmark interest rates unchanged at a record low of 1.0 percent on Thursday with the ECB expected to remain in a holding pattern given uneven growth and low inflation.
Japan's core machinery orders tumbled to a record low in November, adding to government fears of a return to recession that could heighten the need for yet more fiscal stimulus spending.
